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Recommendation N°.5: Abbreviations of INCOTERMS - ECE/TRADE/458 (2020 edition)

ECE/TRADE/458 - UN/CEFACT Recommendation N°.5, Incoterms 2020
Harmonization and partnership are key elements to ensure interoperability of international standards. The United Nations Economic Commission for Europe (UNECE) has worked with partner organizations to ensure that the guidance we provide on topics like international trade are harmonized with their work. One key success story is the partnership with the International Chamber of Commerce (ICC) which results in this recommendation.
The ICC has developed a coded standard for trade terms known as “INCOTERMS.” These terms provide guidance on the division of tasks, costs and risks in the delivery of goods from a seller to a buyer. They date back over a decade and were proposed as a recommendation in UNECE in 1974. The United Nations Centre for Trade Facilitation and Electronic Business (UN/CEFACT) coordinates with the ICC the regular updates of Recommendation 5.
With the development of complex global supply chains, it is necessary to ensure a clear understanding of the responsibilities of each stakeholder. The INCOTERMS allow to define this relationship between buyer and seller and all resulting intermediaries.
This Publication (ECE/TRADE/458) is available in English, French and Russian for download.